VISA has claimed for some time to be doing everything in their power to secure online payments and accounts from hackers. But now a paper is claiming that a major security flaw may not exist from any fancy magnetic device, or backdoor phishing expeditions. It could be as simple as a quick guess from would-be thieves.
The paper, titled Does The Online Card Payment Landscape Unwittingly Facilitate Fraud? , was released by Newcastle University. In it, the UK based researchers claim that hackers can gain access to financial data in less than ten seconds. And it doesn’t even require anything major to do it.